Punching a $40 million hole…

Here’s Rep. Jim Clark’s explanation of the new House property tax bill that was introduced today: “What this will do is it will punch about a $40 million hole in the budget.”

Yes, Clark, R-Hayden Lake, doesn’t like the bill, which eliminates school operations property taxes and raises the sales tax a penny – but doesn’t make up the full loss to schools. He’s holding out for HB 481, a one-year freeze on property taxes that he co-sponsored with House Tax Chair Dolores Crow, R-Nampa, and Assistant Majority Leader Mike Moyle, R-Star. That bill’s sitting in the House Rev & Tax Committee, where it could re-emerge at the pleasure of the chairman.